Crypto Market

BTC and ETH Market Insight

Upcoming Macro Calendar - Source: Trading Economics

Options Market

Over the past week, the BTC and ETH options markets extended their downward correction into a distinct risk-off cycle, with BTC sliding to find a base around $81,500 and ETH breaking technical support to cascade toward $2,400. Implied volatility saw diverging trends: BTC 1W ATM IV compressed slightly from ~31.6% down to ~29.4%, whereas ETH 1W IV expanded from ~39.3% to ~42.1% as altcoin selling intensified. Realized volatility spiked mid-week, pushing BTC’s negative volatility risk premium deeper to -3.8% (vs -0.3% last week), while keeping ETH’s VRP highly attractive and positive at +2.9% (down slightly from +3.5%). The 25Δ 1W options skew remained sharply tilted to puts for both assets. This cautious options environment reflected institutional distribution visible via spot ETF netflows where BTC spot ETFs printed an aggregate 5-day net outflow of –2,450 BTC (marked by a single-day 3.14K BTC bleed on Oct 14), while ETH ETFs suffered aggressive, consecutive daily liquidation totaling a massive –128,860 ETH over the same period.

Altcoins and Blockchain News

• Macro Outlook Next Week: Fed in Collective Silence, US Stock Earnings Season Off.
• Analyst: Bitcoin's MVRV Indicator Drops to 25.7%, Market Enters Transition Accumulation Phase.
• Nine Crypto Institutions Form Quantum Alliance to Address Quantum Risks; 30% of Bitcoin Public Keys Exposed.
• BIS Working Paper: Rising Bank Deposit Rates May Slow Stablecoin Growth, USDC More Responsive.
• MSCI Finalizes New Index Rules; Companies Like Strategy Face Delisting Risk.
• South Korea Plans to Launch Crypto Tax in January Next Year, But Overseas Transactions and Crypto Cards Remain Regulatory Blind Spots.
• Bank of America: October Fed Rate Hike May Support Risk Assets and Act as a "Floor" for US Stocks
• Changxin Memory Technologies Announces Breakthrough in Storage Chip Technology, Causing Samsung and SK Hynix Stock Prices to Fall.
• Yixin Company Suspected of Illegal and Criminal Activities Under Investigation by Beijing Chaoyang Police; Actual Controllers and Others Subject to Compulsory Criminal Measures.
• ZachXBT Accuses XRPL of Paying Only $250,000 Bounty to White Hat Hacker Who Discovered "Infinite XRP Supply Vulnerability”.

Macro

The major indices finished the week mostly lower, driven by the sharp retreat of AI-related giants: the DJIA edged up +0.7%, the S&P 500 fell 1.95%, and the Nasdaq lost 4.48%. The Chinese stock market also declined for the week: the Shanghai Composite Index fell 2.56%, the CSI 300 lost 3.40% and the Hang Seng index slipped 0.10%.